On the sidelines of the BRICS Competition Conference in the national capital, CCI Chairperson Ravneet Kaur said there is a specific session on how sustainability dimensions can be brought into the competition law framework.
“Some countries have already started work on it. I have learnt that Japan has specific green guidelines that they have issued. We are also looking at how do we integrate it into our competition law framework,” she said.
The conference is having a session on ‘Sustainability and Climate Change: New Dimensions in Competition Law’.
According to Kaur, the rapidly growing markets and technological advancements have given competition regulators fresh challenges and new dimensions in competition law and policy.
It is the aim of CCI to effect market correction through judiciously scrutinised cases with procedural fairness, she said, adding that procedures and processes have also been fine-tuned. Delivering the keynote address, National Company Law Appellate Tribunal (NCLAT) Chairperson Ashok Bhushan said that an effective cooperation among BRICS nations in striking the right balance between promoting sustainability and competition is pertinent in order to deal with complex challenges.
Incorporation of sustainability into competition law has the potential of stimulating innovation and development of cleaner technologies, among others.